Please solve the bvelow:

6) Big Construction Company signs a contract on 1 July 2009, agreeing to build a warehouse for Buyer Corporation Limited at a contract price of $10 million. Big Construction Company estimates that construction costs will be as follows: 2009 $2.5 million 2010 $4 million 2011 $1.5 million The contract provides that Buyer Corporation Limited will make payments on 31 December each year as follows: $2009 $2 million $2010 $5 million $2011 $$3 million The contract is completed and accepted on 31 December 2011. Assume that actual costs and cash collections coincide with expectations. Big Construction Company has a financial year ending 31 December. Required Provide the journal entries for 2009, 2010 and 2011, assuming that: (a) The stage of completion can be reliably estimated; and (b) The stage of completion cannot be reliably estimated.6. XYZ signs a contract on 30 June 2012, agreeing to build a bridge for ABC at a contract price of $40 million. XYZ estimates that construction costs will be as follows: Year ending cost 30 June 2013 $10 000.000 30 June 2014 $16 000.000 30 June 2015 $6 000.000 The contract provides that ABC will make payment on 30 June of each year as follows: 2013 $8 000.000 2014 $20 000.000 2015 $12 000 000 $40 000.000 The contract is complete as expected on 30 June 2015. Assume that actual costs and cash collection coincide with expectations. Required (a) Calculate the income recognized each year. (b) Provide the journal entries for each year, assuming that stage of completion and the outcome of the construction contract cannot be reliably estimated. (c) Provide the journal entries for each year, assuming that stage of completion and the outcome of the construction contract can be reliably estimated